BEAM, the investment platform created by Bamboo Capital Partners has announced a partnership with BBOXX and EDF to bring greater access to clean, reliable and affordable energy in Togo, powering economic growth and transforming lives.
The partnership with EDF, the world’s leading electricity company, and BBOXX, a next generation utility, will provide a reliable, affordable and CO2-free contribution to the Togo Government’s electrification programme, known as ‘CIZO’, which aims to supply two million people with solar home systems by 2022.
As part of the partnership, BEAM will invest in BBOXX Togo, the local DESCO (Distributed Energy Service Company). The injection of capital will be used to finance and accelerate the growth of BBOXX Togo.
Mansoor Hamayun, CEO and co-founder of BBOXX, said: “Our latest deal with EDF symbolises the first stepping stone in a strong strategic partnership. It will see us work together to bring smart and sustainable energy solutions and other vital utilities and value-added services to the underserved“.
Jean-Philippe de Schrevel, Founder and Managing Partner at Bamboo, commented: “This is a significant milestone for BEAM as it is a proof of concept moment (…) I am delighted that such a renowned and reputable organisation as EDF has aligned to BEAM’s vision and I look forward to announcing similar partnerships, investments and deals in the coming months and years.”
Valerie Levkov, EDF’s Senior Vice-President in charge of Africa and Middle East, stated: “By teaming up with BBOXX in Togo, the EDF Group has embarked on a new stage of development of its off-grid activities in Africa, which has been constantly speeded up since our Ivory Coast subsidiary, Zeci, was set up less than two years ago. We are proud to work with a partner like BBOXX, which shares our commitment to low carbon energies. The partnership that has just been set up fits in with the EDF strategy CAP 2030, whose main purpose is to triple our activities outside Europe.”